Supply Chain Planning and Execution (200 Questions)

🌟 Course Title: Supply Chain Planning and Execution (200 Questions)

📚 Course Description:

eBodhisathva Solutions has meticulously crafted this Practice Questions set to assist certification aspirants in validating their knowledge base. Each question is accompanied by an answer and a detailed explanation, serving not just as a clarifier but also offering concise notes on the subject matter. The explanations often include discussions on related concepts, complementary terms, and relevant examples.

Understanding the Least Unit Cost (LUC) Approach: 📊

Let's take an example to understand the LUC approach better:

Question: The Least Unit Cost (LUC) approach produces an irregular interval between replenishment orders on the basis of the number of weeks that will minimize unit cost. (True or False)?

Answer: 🔁 True

Explanation: In the Least Cost per Unit (LCU) Lot Sizing method, the order size is determined to meet the demand for the next few periods with average cost per unit at the minimum. For each possible number of periods, the ordering and carrying costs are computed to arrive at the possible average unit price. The optimal number of periods is chosen based on which the average unit price is the least.

For instance: If a pattern in demand over the next 3 weeks is visible, we calculate the cost per unit for 1 week, 2 weeks, 3 weeks, and 4 weeks. Should the least unit price be estimated at 3 weeks, the order size will cater to the demands of the coming 3 weeks. This is because the order size is always determined based on the number of periods over which the average unit price is minimum, leading to irregular ordering intervals.

This comprehensive set of Practice Questions is designed to help students refresh their knowledge and assess their understanding of Manufacturing Planning and Execution. The kit consists of four kits with about 200 well-designed Questions, mirroring the depth and breadth of a real certification exam.

The following are the key areas covered in these question sets:

🚀 Manufacturing, Forecasting, Planning (Production, Procurement, and JIT), Logistics, Distribution Requirement Planning, Capacity Requirement Planning, Inventory, Production Activity Control, Quality, Order Promising, and Customer Service.

Here's a breakdown of the question sets:

1. Manufacturing Planning and Execution Set 1 (80 Questions)

   • Shop Floor Management
   • Performance Measurement
   • Planning (MPS, MRP, & CRP)
   • Inventory

2. Manufacturing Planning and Execution Set 2 (40 Questions)

   • Just-in-Time and Inventory Management

3. Manufacturing Planning and Execution Set 3 (40 Questions)

   • Inventory Lot Sizing, Valuation, Quality
   • Customer Service, Safety Stock, and Safety Time
   • Order Promising
   • MRP (planned, open, and firm orders)
   • Production Scheduling and Capacity Planning

4. Manufacturing Planning and Execution Set 4 (40 Questions)

The questions range from straightforward to complex scenario-based problems and often require the combination of multiple answer options to arrive at the correct response. This approach is designed to consolidate the understanding of concepts and prepare students for certifications relevant to Supply Chain and Inventory Management.

Success Awaits: We've put considerable thought into creating these questions to sharpen your understanding, solidify your knowledge, and offer a platform to gauge your preparedness for certification exams. We wish you the greatest success in enriching your knowledge base and achieving your certification goals!

📝 Disclaimer: eBodhisathva Solutions provides this practice questions set with the intent to aid students in testing their knowledge within the domain of Supply Chain and prepare for certifications related to this subject. We are not affiliated with any Certification Providers or their partners.